Guideline Value for Bunder Ramanaicken Model ‘A ’To ‘I ’

Bunder Ramanaicken Model ‘A ’To ‘I ’ guideline value

The current guideline value for Bunder Ramanaicken Model ‘A ’To ‘I ’ is Rs 6,000 per sq.ft, effective from 1 July 2024. This property is located in Muthiyalpet village, under the Sowcarpet SRO, and is classified as Residential Special Type - I.

How the guideline value of Bunder Ramanaicken Model ‘A ’To ‘I ’ has changed

The guideline value for Bunder Ramanaicken Model ‘A ’To ‘I ’ has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 1,233 per sq.ft. This increased to Rs 2,000 per sq.ft in 2007, followed by a significant jump to Rs 5,500 per sq.ft in 2012. However, it decreased to Rs 3,685 per sq.ft in 2017. The value then rose to Rs 5,500 per sq.ft in 2023, and finally reached Rs 6,000 per sq.ft in 2024.

Between the revisions, there have been notable changes. From 2003 to 2007, the value increased by 62%. The period from 2007 to 2012 saw a drastic rise of 175%. However, there was a decrease of 33% from 2012 to 2017. The value then surged by 49% from 2017 to 2023, and finally, there was a 9% increase from 2023 to 2024. Overall, the guideline value has increased by 387% from 2003 to 2024. The register has no figure for this street in 2002.

Guideline values in Muthiyalpet

In Muthiyalpet, there are 357 streets under the Sowcarpet SRO that carry a 2024 guideline value ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Bunder Ramanaicken Model ‘A ’To ‘I ’ above this median.

• Bunder Ramanaicken Garden Broadway Part: Rs 4,400 per sq.ft (2024)
• Bunder Street (Murugappan Street): Rs 8,800 per sq.ft (2024)
• Budha Sahib Street: Rs 4,400 per sq.ft (2024)
• Broadway: Rs 16,500 per sq.ft (2024)
• Bridge Rasa Road: Rs 6,000 per sq.ft (2024)
• Braiyra Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Bunder Ramanaicken Model ‘A ’To ‘I ’

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, leading to a total of Rs 5,40,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bunder Ramanaicken Model ‘A ’To ‘I ’?

The Bunder Ramanaicken Model ‘A ’To ‘I ’ area is covered by the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Muthiyalpet

The guideline value is a crucial factor when buying or selling property in Muthiyalpet. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware that the guideline value can significantly impact the overall cost of property transactions.

When registering a property, the guideline value is used to calculate the applicable duties and fees. This ensures that the registration process is transparent and based on standardized values set by the government. Understanding the guideline value can help both buyers and sellers make informed decisions.

Frequently asked questions

What is the current guideline value for Bunder Ramanaicken Model ‘A ’To ‘I ’?

The current guideline value for Bunder Ramanaicken Model ‘A ’To ‘I ’ is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,233 per sq.ft in 2003 to Rs 6,000 per sq.ft in 2024, showing an overall increase of 387% across the years.

What is the land classification for this area?

The land classification for Bunder Ramanaicken Model ‘A ’To ‘I ’ is Residential Special Type - I.

Where can I find the Sub Registrar Office for this property?

The Sub Registrar Office covering Bunder Ramanaicken Model ‘A ’To ‘I ’ is located at No.11, Davidson Street, Sowcarpet, Chennai-01.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 60,00,000 would incur a stamp duty of Rs 4,20,000 at 7%.